Weekly On-Chain Report (July 28 – Aug 3): Whales Bought $4.4 Billion in BTC and ETH as Retail Panicked
Main Idea
During the week of July 28 to August 3, 2025, institutional investors and whales accumulated significant amounts of BTC and ETH during a market dip, while retail investors panicked.
Key Points
1. Publicly listed companies bought 31,478 BTC worth $3.61 billion, with MicroStrategy (now Strategy) alone purchasing 21,021 BTC worth $2.46 billion.
2. New whale wallets accumulated 225,099 ETH valued at $819 million, with SharpLink Gaming being the largest buyer (60,694 ETH worth $221 million).
3. Bitcoin (BTC) and Ethereum (ETH) experienced a technical pullback, with BTC dropping below $112,000 and ETH declining amid heavy accumulation by large players.
4. The total stablecoin market cap increased by $1.99 billion, with significant inflows into USDT and USDC on Arbitrum.
5. Binance recorded a record $2.55 trillion in futures trading volume for July 2025, indicating strong derivatives market demand.
Description
Weekly market recap shows a disconnect between falling prices and bullish on-chain activity Publicly listed companies bought over 31,000 BTC, worth $3.61 billion, last week New whale wallets accumulated over 225,000 ETH, valued at $819 million, during the dip While Bitcoin (BTC) and Ethereum (ETH) saw a technical pullback in prices last week, a look behind the scenes at on-chain data shows that institutional and whale investors were doing the exact opposite: buying the dip in massive quantities....
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